Working in a corporate job for many years tends to get exhausting at some point. People want to become more independent and feel like they’re making a real difference. Starting one’s business seems to be a good idea. It offers more autonomy and control over the personal schedule.
Maybe that’s your case. Or maybe you’re a student and want to find out how to make money during the summer break. Either way, you’re probably curious to learn more about network marketing. And we’re here to help with that.
What is Network Marketing?
Multi-level marketing companies, refer to large enterprises which do business by collaborating with individuals called brand partners. These people sell the products or services of the larger company and get a commission out of those sales. Money is also made by recruiting new partners and earning commissions out of their sales.
Each brand partner builds their own small home-based business and can decide how and where to sell. This is done through direct sales, either online, going door to door or during specialized events happening in the industry.
Network Business – What You Should Know
We advise you to do some proper research before deciding what brand to start a network business with. There are those who only make money out of recruiting and don’t sell any actual products. You can guess what those are: pyramid scams.
Pick an enterprise which has been on the market for a while and has built some sort of trust and reputation amongst its clients. For instance, Neora is a Texas-based company, founded in 2011. They make anti-aging products and have extended their reach on an international level. Of course, there’s still a lot of room to grow, and you can be part of their process.
Remember that, although you are building a business, you won’t be developing products and will have no power of decision over their composition, labeling, and so on. On the other hand, you will get to test those products, either for free or with significant discounts.
Be careful as some potential collaborators could ask you to regularly order a minimum amount of their products. You might even have to sell them customers too, or not, it won’t matter. Neora doesn’t ask you to have their creams shipped to you in advance, so you get to keep the space in your house or garage. When your clients order products, they’ll take care of deliveries.
One very important aspect to keep in mind is that salaries don’t exist in network marketing. You only get paid through commissions. How much effort you want to put into this business is totally up to you. You’ll earn depending on the quantities you sell.
This level of responsibility also has the advantage of letting one build their own schedule. You’ll work when you want, as many hours as you wish. If you just need to find out how to make money during the summer, this could be the way to go.
People tend to forget that network marketing business isn’t a secret method of getting rich overnight, as often advertised. You’ll need to consider whether you have the patience of growing your business and its credibility over a few years. Be realistic and don’t quit your full-time job right away, until you’re getting a stable income from the network business.
Make sure you have the proper motivation and believe in the product you’ve chosen. Learn what it is, how it’s made, and those values on which the company producing it was built. If you’d buy it and use it, you’ll know how to convince others too.
Skills You Need to Make Money in Multi-Level Marketing
In order to succeed and make money in multi-level marketing, you’ll need to have or learn a few skills. First of all, you’ll need to organize your time properly, and gladly, a network business allows you to build a flexible schedule. Take advantage of that and put tasks together in ways that will get them done efficiently.
Secondly, a very important aspect of this field is related to marketing skills. You should learn a few great sales techniques that best suit your style, personality, and needs. Some multi-level structured companies offer in-house training for those who decide to join them as brand partners. Neora is one of those too. They’ll send you marketing materials, including brochures of their products, to give you insights into their successfully proven strategies.
Furthermore, since we live in a world filled with constant technological advancements, you’ll need to know how to promote yourself online. Learn how to use social media to your best interest. If joining Neora, they’ll help build a website for you, where you can easily sell products, and give you access to apps and other great digital tools.
Thirdly, you must have people skills so you can build amazing communication with them. Take on a friendly, positive attitude, and don’t be afraid to approach others. Once you do, keep close to them, both customers and potential recruits. That’s called follow up and you can do it when they’re undecided regarding your products, but also after they’ve already bought some. It builds further trust and can ensure the fact that they’ll come back for more.
Lastly, show confidence. In yourself, your sales abilities and, most of all, in your product. If you know everything about it, then you’re able to tell others what benefits it might bring them. Don’t forget to stay positive, even when your network business is going slower. As we said before, chances of getting rich and famous just by snapping your fingers are low.
Wrapping things up, we hope we were able to offer some valuable information regarding this future career you’re tempted to start. What you need now is to do research on companies and products, choose those you’d trust to use yourself. Learn effective sales and marketing techniques as those are the key to your success. Be patient, never stop reading and evolving. Rewards will follow.